A quick look on Rightmove and it won’t take long before you see a ‘Reduced’ guide price. The recent Bank of England’s mortgage rate rises are starting to bite, taking a large chunk out of what prospective buyers are able to offer to buy a home. Homeowners should try not to panic, however. A property’s value is only relevant at the moment you sell it so with any luck you should be able to weather fluctuations in the market.
The optimum time to own a home in London is nine years if you want to be sure of house price growth. Indeed, the average London homeowner will have seen the value of their property rise 45 per cent since 2014, up from £364,900 to £529,300.
